MTD ITSA regulations amended but concerns remain
[ad_1] ICAEW’s Tax Faculty examines the latest MTD publications, including the amended MTD ITSA regulations and the government’s response to the public accounts committee report on MTD. If this article is supporting your professional development, it can count towards your verifiable CPD hours. Use the pop up at the bottom right corner of your screen […]
HMRC’s debt levels remain high as interest rates increase
[ad_1] The increase in HMRC interest rates from 22 August 2023 will make it harder for taxpayers to clear these debts. HMRC is seeing more taxpayers getting into debt and the average value of those debts is increasing as the economic situation remains challenging. The majority of tax debt is owed by small and medium-sized […]
Nominations of tax repayments remain valid
[ad_1] Assignments of income tax repayments are void from Budget Day. However, HMRC will continue to accept nominations of repayments to third parties, including agents. In its response to Raising standards in tax advice: protecting customers claiming tax repayments, the government announced that assignments of income tax repayments will be rendered void. This decision […]